The real estate market in Italy is expected to remain “buoyant” for the first half of 2012, one expert has claimed. Linda Travella, who has been involved in the country’s property sector for more than 20 years, predicted the high levels of interest experienced in the final three months of 2011 will carry over into next year. “The last quarter of 2011 is the busiest it has been for four years, with a surprising amount of enquiries and sales of Italian property,” she stated. Ms Travella added interest is coming from a variety of sources, with buyers from the UK, Russia, Canada, Norway and Switzerland all keen to own a home in the nation. She also revealed investors hoping to generate a reasonable return on their capital should keep a real estate asset for at least three years, although holding it for five years can be more beneficial when it comes to taxation. Earlier in December, the Italian cabinet decided to reintroduce a property tax on first homes that was abolished by former prime minister Silvio Berlusconi. This may be something potential buyers want to bear in mind before committing to a purchase.
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